acquisitions and divestitures
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Hess Corp. sold its stake in the Shenzi development to BHP for $505 million to help pay its share of the cost of developing discoveries offshore Guyana. -
The deal includes Sandvik’s exploration rigs, consumables, production stock, and selected trademarks and patents.
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The sale of Chevron’s interest in the IDD project is part of its cost-cutting measures.
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The acquisition and divesture deal includes large-interest positions in nine offshore exploration blocks, several of which Shell may become the operator of.
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The latest updates on the North American shale sector’s efforts to consolidate and restructure.
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The announcements are part of the company’s divestment strategy to reduce debt and improve capital.
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Chevron strengthens its North American position with assets in the Permian, DJ, and Eagle Ford basins and offshore in Israel and West Africa.
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Nearly everything’s on the table as companies aim to shore up portfolios by curtailing investments and dumping low-priority assets.
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Aramco’s acquisition of SABIC positions the company as a major global petrochemical player.
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Centennial said in its 10-Q report for Q1 that the economic downturn increased the likelihood that the transaction would fail to close by its original timeline.
